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NASHUA, N.H., April 04, 2019 (GLOBE NEWSWIRE) -- iCAD, Inc. (NASDAQ: ICAD), a global medical technology leader providing innovative cancer detection and therapy solutions, today announced that it will present its latest artificial intelligence software solution for digital breast tomosynthesis (DBT), ProFound AI™, as well as its PowerLook Density Assessment software, in the iCAD exhibition booth #301 during the 2019 Society of Breast Imaging (SBI) Annual Symposium, the largest breast imaging conference in the world. Hosted by the SBI and the American College of Radiology, the conference will take place April 4-7, 2019, in Hollywood, Florida.
ProFound AI is a high-performance, deep-learning, cancer detection and workflow solution for DBT. This transformational technology delivers critical benefits to radiologists, their facilities and patients through the improvement of cancer detection rates by an average of 8 percent and a reduction in the rate of unnecessary patient recalls by an average of 7 percent. The technology is designed to detect malignant soft-tissue densities and calcifications and provides radiologists with the certainty of finding lesion and case scores. Since its U.S. launch in December 2018, ProFound AI has been adopted by a significant number of high-profile hospitals and imaging centers in all major geographic areas of the country, demonstrating the strong need for such revolutionary technology.
“We look forward to engaging with breast imaging professionals at the SBI Symposium to share our powerful ProFound AI solution that delivers vast improvements in clinical performance and workflow,” said Stacey Stevens, President of iCAD. “We are pleased with the overwhelmingly positive feedback we have received from customers who have been early adopters of this technology.”
“Enhanced breast cancer detection remains a critical healthcare initiative, as evidenced by the recently proposed regulations from the U.S. Food and Drug Administration (FDA) requiring breast density reporting,” continued Ms. Stevens. “The new proposed regulations would enhance FDA’s ability to enforce mammography facilities’ compliance with breast density reporting standards. Importantly, iCAD’s PowerLook Density Assessment software is designed to standardize the assessment of breast density in 2D and 3D mammography. We believe this innovative technology could play an important role in healthcare facilities’ ability to adhere to the new proposed regulations from FDA.”
For more information about iCAD and its solutions or to register for a meeting or demonstration at SBI, please visit http://go.icadmed.com/SBI_2019.
About iCAD, Inc.
Headquartered in Nashua, NH, iCAD is a global medical technology leader providing innovative cancer detection and therapy solutions. For more information, visit www.icadmed.com.
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Certain statements contained in this News Release constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements involve a number of known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Such factors include, but are not limited to the Company’s ability to defend itself in litigation matters, to achieve business and strategic objectives, the risks of uncertainty of patent protection, the impact of supply and manufacturing constraints or difficulties, uncertainty of future sales levels, protection of patents and other proprietary rights, product market acceptance, possible technological obsolescence of products, increased competition, litigation and/or government regulation, changes in Medicare or other reimbursement policies, risks relating to our existing and future debt obligations, competitive factors, the effects of a decline in the economy or markets served by the Company; and other risks detailed in the Company’s filings with the Securities and Exchange Commission. The words “believe”, “demonstrate”, “intend”, “expect”, “would”, “could”, “consider”, “project”, “estimate”, “will”, “continue”, “anticipate”, “likely”, “seek”, and similar expressions identify forward-looking statements. Readers are cautioned not to place undue reliance on those forward-looking statements, which speak only as of the date the statement was made. The Company is under no obligation to provide any updates to any information contained in this release. For additional disclosure regarding these and other risks faced by iCAD, please see the disclosure contained in our public filings with the Securities and Exchange Commission, including the 10-K for the year ended December 31, 2018, available on the Investors section of our website at http://www.icadmed.com and on the SEC’s website at http://www.sec.gov.
LifeSci Advisors, on behalf of iCAD, Inc.
Jeremy Feffer, (212) 915-2568